For years, scholars and science fiction writers have warned about the possibility of machines replacing workers. Now that the world of artificial intelligence has taken a giant leap forward in 2023, it seems we are one step closer to becoming a reality.
Executives at some of the world’s biggest and most powerful companies aren’t shy about their enthusiasm for AI and their plans to use the new technology to protect their bottom lines.
In a recent survey conducted by PwC, a multinational professional services and consulting firm, CEOs were asked about AI while attending the annual World Economic Forum in Davos, Switzerland.
The firm specifically asked about generative AI, which, as the name suggests, generates new content such as text, images or audio based on user-supplied cues.
If you’re active on social media, you’ve probably seen some version of creative AI, either in the form of a classic Lisa Frank-esque example from the ’90s, a real song performed by fake versions of Drake and The Weeknd. Done, your friends or acquaintances suddenly have yearbook photos from the 1980s or new professional headshots, or maybe you’ve stumbled upon these fake photos of former President Donald Trump being arrested by armed police last March. fell down
It is the generating AI.
Now a group of high-level executives think generative AI has untapped potential, including potential for cost reduction, aka layoffs.
A majority of CEOs expressed interest in generative AI, with many saying they believe it will drive innovation and competitiveness in their respective industries.
But 25 percent of those CEOs also said in the poll that they expect AI to provide other new benefits for their company, including allowing for “headcount reduction.”
“A quarter of CEOs [are] PwC said in a news release that generative AI is expected to reduce headcount by at least 5 percent in 2024.
The industry where AI could have the biggest impact? entertainment
More than 30 percent of CEOs of media and entertainment companies were among those who said they expected AI to lead to layoffs.
If you recall, much of the entertainment industry came to a standstill in 2023 due to contract disputes between the major film studios and the unions representing writers and actors — one of the main concerns being artificial intelligence in future productions. was used.
While both strikes were resolved with some reservations, others in the industry, including editors, VFX artists, storyboardists and post-production artists, have voiced their concerns about the possibility of losing their jobs to AI.
Earlier this month, Matthew Loeb, president of the Theatrical Stage Employees International, which represents about 170,000 workers in the industry, said the union was poised to strike next year when studios with Several of his contracts begin to expire.
AI is once again expected to be a key point in future conversations between studios and the millions of workers who keep the industry running.
Other industries where CEOs say layoffs may be on the horizon include insurance, banking, transportation and logistics, telecommunications and, of course, retail.
As Futurism.com suggests, executives stepping first into the world of artificial intelligence may want to let off the gas pedal, lest they end up sowing the seeds of their own demise. The website caught Sports Illustrated in the act of using AI to populate articles on its website. The CEO of the once popular publication was later fired.